Core Viewpoint - Chongqing Bank is on track to achieve significant growth and stability, aiming for a key year in 2025 as it approaches the "trillion" asset milestone, with a focus on serving the local economy and enhancing financial services for small and micro enterprises [1][5]. Asset Scale - As of June 30, 2025, the bank's total assets reached 983.37 billion, a 14.79% increase from the previous year, with loans exceeding 500 billion and deposits totaling 544.14 billion, also up by 14.77% [2][5]. - The bank's asset quality remains robust, with a non-performing loan ratio of 1.17%, down by 0.08 percentage points from the end of the previous year [2][3]. Profitability - The bank reported operating income of 7.66 billion, a year-on-year increase of 7.00%, and a net profit attributable to shareholders of 3.19 billion, up 5.39% from the previous year, marking the best growth rates in three years [2][3]. - Interest income grew by 12.22% to 5.86 billion, benefiting from the expansion of interest-earning assets and effective control of funding costs [2]. Risk Control - The bank has enhanced its comprehensive risk management system, with a focus on credit risk prevention, resulting in improved risk coverage with a provision coverage ratio of 248.27% [2][3]. - The proportion of loans under special attention decreased to 2.05%, indicating effective risk management practices [2]. Manufacturing Sector Focus - The bank's loans to the manufacturing sector reached 36.63 billion, a 16.86% increase from the previous year, with a non-performing loan ratio of 1.99%, reflecting a stable quality in loan growth [3][4]. - Initiatives such as the "Manufacturing Industry Action Plan" and support for high-quality development of the private economy have been implemented to ensure effective financial services [3]. Financial Innovation - The bank has developed a financial service system tailored to the entire lifecycle of technology enterprises, with technology loans growing over 40% [4]. - Green finance initiatives have led to a green loan portfolio exceeding 75 billion, with an annual growth rate of over 30% [4]. Regional Development Contribution - The bank has actively supported the Chengdu-Chongqing economic circle, injecting nearly 140 billion in credit to major projects, including transportation and digital economy initiatives [5]. - The bank's financing for the Western Land-Sea New Corridor has surpassed 47 billion, showcasing its commitment to regional infrastructure development [5]. Retail Business Innovation - The bank has introduced innovative consumer finance products, such as the "Jie e Loan," which has grown by 35% since the beginning of the year, enhancing consumer financing options [6]. - The bank aims to continuously improve its service quality and contribute to the high-quality development of the real economy as it approaches its "trillion" asset goal [6].

随着重庆银行与成都银行相继披露2025年半年度报告，西南地区两家头部城商行的经营表现再度聚焦市 场目光，同时引发市场对"西南之王"称号的新一轮讨论。 透过两份半年报不难发现，2025年上半年，两家银行在资产规模、营收利润、业务布局及风险管控四大 核心维度呈现差异化发展态势：成都银行凭借更大的资产与盈利体量暂居优势，重庆银行则以迅猛的规 模扩张、亮眼的营收增速展现强劲追赶势头。 资产规模：成都银行"一骑绝尘" 资产规模是衡量银行实力的重要基础。2025年上半年，两家银行均实现稳健扩张，但梯队差距明显。半 年报显示，截至2025年6月末，成都银行总资产达1.37万亿元，较上年末增长9.77%，继续稳坐西南地区 资产规模最大城商行的宝座；重庆银行资产总额为9833.65亿元，较上年末增加1267.23亿元，增幅 14.79%，距离万亿大关一步之遥，增长势头迅猛。 Wind数据显示，截至2025年一季度末，17家A股上市城商行中，总资产超过万亿元的有8家。其中，成 都银行是唯一一家资产规模超万亿元的西南地区城商行。 营收利润：两家银行均实现"正增长" 从盈利能力看，成都银行以体量取胜，重庆银行则在营收增速上占优。半年 ...

以上理财产品信息仅供参考，具体应以《产品说明书》等销售文件为准。本文不构成任何投资建议，投 资者据此操作，风险自担。 （重庆银行） 8月28日，据重庆银行披露，该行发行的长江·聚惠公募净值型点金产品2025年第9期募集期为2025年8月 28日到2025年9月4日，计划发行量5亿元，投资者认购起点金额为1万元。产品为固定收益类，产品风险 评级为中低风险，业绩比较基准为2.25%～3.05%（年化）。 注：业绩比较基准不是预期收益率，不代表产品的未来表现和实际收益，不构成对产品收益的承诺。 ...

Market Performance - The city commercial bank sector increased by 1.22% on August 28, with Chengdu Bank leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Bank Performance - Chengdu Bank's closing price was 18.54, with a rise of 2.77% and a trading volume of 674,500 shares, amounting to a transaction value of 1.241 billion yuan [1] - Nanjing Bank closed at 11.28, up 1.99%, with a trading volume of 653,800 shares and a transaction value of 735 million yuan [1] - Jiangsu Bank closed at 11.02, up 1.94%, with a trading volume of 2.122 million shares and a transaction value of 2.324 billion yuan [1] - Other notable banks include Hangzhou Bank (closing price 16.08, up 1.39%), Ningbo Bank (closing price 28.29, up 1.11%), and Suzhou Bank (closing price 8.32, up 1.09%) [1] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 470 million yuan from main funds, while retail funds experienced a net outflow of 383 million yuan [2] - The individual stock capital flow indicates that Jiangsu Bank had a net inflow of 111 million yuan from main funds, while it faced a net outflow of 10.2 million yuan from retail funds [3] - Hangzhou Bank also reported a net inflow of 108 million yuan from main funds, with a net outflow of 81.36 million yuan from retail funds [3]

Core Insights - The performance of listed city commercial banks in A-shares shows divergence, with Jiangsu Bank, Chengdu Bank, and Chongqing Bank achieving steady growth, while Guiyang Bank's performance declined [1][2] Group 1: Financial Performance - Jiangsu Bank reported operating income of 44.864 billion yuan, a year-on-year increase of 7.78%, and net profit attributable to shareholders of 20.238 billion yuan, up 8.05% [2] - Chengdu Bank achieved operating income of 12.27 billion yuan, a 5.91% increase, and net profit of 6.617 billion yuan, up 7.29% [2] - Chongqing Bank's operating income reached 7.659 billion yuan, a 7% increase, with net profit of 3.190 billion yuan, up 5.39% [2] - Guiyang Bank's operating income was 6.501 billion yuan, a decrease of 12.22%, and net profit of 2.474 billion yuan, down 7.2% [2] Group 2: Stock Performance - Jiangsu Bank's stock price increased by 25.54%, ranking fourth among A-share listed banks, while Chongqing Bank and Chengdu Bank saw stock price increases of 21.98% and 17.48%, respectively [2] Group 3: Business Growth Drivers - Corporate business significantly boosted net interest income for Jiangsu Bank, Chengdu Bank, and Chongqing Bank, serving as a key pillar for their positive performance [3] - Chongqing Bank's average corporate loan balance increased by 82.149 billion yuan year-on-year, contributing to a rise in interest income by 1.393 billion yuan [3] - Chengdu Bank also experienced a 17.87% year-on-year increase in average corporate loans, leading to a 10.12% rise in interest income [3] Group 4: Credit Structure Optimization - As of June 30, Chongqing Bank's small and micro enterprise loan balance reached 182.248 billion yuan, an increase of 33.119 billion yuan from the previous year [4] - Jiangsu Bank's small micro loan balance exceeded 750 billion yuan, with a significant increase in inclusive small micro loans [4] - Guiyang Bank issued 17.577 billion yuan in new inclusive small micro loans, with a weighted average interest rate of 4.20%, down 43 basis points year-on-year [5]

截至2025年6月30日，重庆银行不良贷款余额为58.40亿元，较上年末上升3.77亿元；不良贷款率为 1.17%，较上年末下降0.08个百分点。其中，房地产不良贷款率为7.19%，创下2013年上市以来新高。 重庆银行于2024年换帅。2024年1月11日，林军因到龄退休原因辞去重庆银行董事长、执行董事及 董事会战略与创新委员会主任委员、提名委员会委员、薪酬与考核委员会委员职务。 2024年3月13日，经重庆金融监管局《关于重庆银行杨秀明任职资格的批复》（渝金管复[2024]23 号）核准，杨秀明自该日起担任重庆银行董事长、执行董事，并确认已于2024年3月13日取得香港上市 规则第3.09D条所述的法律意见，并明白其作为重庆银行董事的责任。 中国经济网北京8月28日讯 重庆银行(601963.SH，01963.HK)日前公布了2025年半年度报告。2025 年上半年，重庆银行实现营业收入76.59亿元，较上年同期增长7.00%；实现净利润33.94亿元，较上年 同期增长5.73%，实现归属于该行股东净利润31.90亿元，较上年同期增长5.39%；实现扣除非经常性损 益后归属于该行股东的净利润31.75亿元 ...

Core Viewpoint - The performance of listed city commercial banks in A-shares shows divergence, with Jiangsu Bank, Chengdu Bank, and Chongqing Bank achieving steady growth, while Guiyang Bank's performance declined [1][2]. Performance Divergence - Jiangsu Bank reported operating income of 44.864 billion yuan, a year-on-year increase of 7.78%, and net profit attributable to shareholders of 20.238 billion yuan, up 8.05%. The non-performing loan ratio was 0.84%, down 0.05 percentage points from the end of last year [2]. - Chengdu Bank achieved operating income of 12.27 billion yuan, a 5.91% increase year-on-year, and net profit of 6.617 billion yuan, up 7.29%, with a low non-performing loan ratio of 0.66% [2]. - Chongqing Bank's operating income was 7.659 billion yuan, a 7% year-on-year increase, and net profit was 3.190 billion yuan, up 5.39%, with a non-performing loan ratio of 1.17%, down 0.08 percentage points [2]. - In contrast, Guiyang Bank's operating income was 6.501 billion yuan, a decrease of 12.22% year-on-year, and net profit was 2.474 billion yuan, down 7.2% [2]. - Stock performance reflected this divergence, with Jiangsu Bank's stock price increasing by 25.54%, Chongqing Bank by 21.98%, Chengdu Bank by 17.48%, and Guiyang Bank by 9.16% [2]. Corporate Business as Growth Engine - Corporate business growth significantly boosted the net interest income of Jiangsu Bank, Chengdu Bank, and Chongqing Bank, serving as a key pillar for their positive performance [3]. - Chongqing Bank's average corporate loan balance increased by 82.149 billion yuan year-on-year, contributing to a rise in interest income by 1.393 billion yuan, while retail loan interest income declined despite an increase in scale [3]. - Chengdu Bank also saw a 17.87% year-on-year increase in average corporate loans, leading to a 10.12% rise in interest income, while personal loan interest income decreased [3]. - Jiangsu Bank's net interest income reached 32.939 billion yuan, a 19.10% year-on-year increase, driven by a 3.33 billion yuan rise in debt instrument investment interest income [3]. Continuous Optimization of Credit Structure - As of June 30, Chongqing Bank's small and micro enterprise loan balance was 182.248 billion yuan, an increase of 33.119 billion yuan from the end of last year, with record high loan increments [4]. - Jiangsu Bank's small micro loan balance exceeded 750 billion yuan, with a 25.3 billion yuan increase in inclusive small micro loans [4]. - Guiyang Bank issued 17.577 billion yuan in new inclusive small micro loans, with a weighted average interest rate of 4.20%, down 43 basis points year-on-year [5].

Core Insights - The A-share listed banks are entering a concentrated disclosure period for the 2025 semi-annual reports, with mixed performance observed among city commercial banks [1][2] - Jiangsu Bank, Chengdu Bank, and Chongqing Bank reported steady growth, while Guiyang Bank experienced a decline in performance [1][2] Performance Analysis - Jiangsu Bank achieved an operating income of 44.864 billion yuan, a year-on-year increase of 7.78%, and a net profit of 20.238 billion yuan, up 8.05%. The non-performing loan ratio was 0.84%, down 0.05 percentage points from the end of last year [1] - Chengdu Bank reported an operating income of 12.27 billion yuan, a 5.91% increase, and a net profit of 6.617 billion yuan, up 7.29%, with a low non-performing loan ratio of 0.66% [1] - Chongqing Bank's operating income was 7.659 billion yuan, a 7% increase, with a net profit of 3.190 billion yuan, up 5.39%, and a non-performing loan ratio of 1.17%, down 0.08 percentage points [1] Stock Performance - The stock performance in the first half of the year showed significant differences: Jiangsu Bank's stock rose by 25.54%, Chongqing Bank by 21.98%, Chengdu Bank by 17.48%, and Guiyang Bank by 9.16% [2] Business Growth Drivers - Corporate business has been a key driver for the growth in net interest income for Jiangsu Bank, Chengdu Bank, and Chongqing Bank [2] - For Chongqing Bank, the average balance of corporate loans increased by 82.149 billion yuan year-on-year, contributing to an increase in interest income of 1.393 billion yuan [2] - Chengdu Bank also saw a 17.87% year-on-year increase in average corporate loans, leading to a 10.12% rise in interest income [2] Interest Income Contributions - Jiangsu Bank's net interest income reached 32.939 billion yuan, a year-on-year increase of 19.10%, driven by debt instrument investments and corporate loans [3] - Interest income from debt instrument investments increased by 3.33 billion yuan, while interest income from corporate loans rose by 1 billion yuan [3] Credit Structure Optimization - As of June 30, Chongqing Bank's small and micro enterprise loan balance was 182.248 billion yuan, an increase of 33.119 billion yuan from the end of last year [3] - Jiangsu Bank's small micro loan balance exceeded 750 billion yuan, with significant growth in inclusive small micro loans and technology loans [3] Guiyang Bank's Performance - Guiyang Bank faced challenges, with an operating income of 6.501 billion yuan, a year-on-year decrease of 12.22%, and a net profit of 2.474 billion yuan, down 7.2% [2] - The bank issued 17.577 billion yuan in new inclusive small micro loans, with a weighted average interest rate of 4.20%, down 43 basis points year-on-year [4]

Core Viewpoint - Chongqing Bank has demonstrated strong performance in its half-year report, showcasing significant growth in assets, loans, and deposits, while maintaining high asset quality and profitability, positioning itself as a leading city commercial bank in the Yangtze River Economic Belt [1][19]. Group 1: Growth Highlights - As of June 30, the total assets of Chongqing Bank reached 983.365 billion yuan, an increase of 126.723 billion yuan, representing a growth rate of 14.79% [2]. - The loan total reached 500.670 billion yuan, with an increase of 60.054 billion yuan, reflecting a growth rate of 13.63% [5]. - The total deposits amounted to 544.136 billion yuan, increasing by 70.019 billion yuan, with a growth rate of 14.77% [7]. Group 2: Asset Quality - The non-performing loan (NPL) ratio decreased to 1.17%, down by 0.08 percentage points from the previous year [9]. - The provision coverage ratio increased to 248.27%, up by 3.19 percentage points [9]. - The bank's NPL ratio is 0.32 percentage points lower than the national average of 1.49%, while its provision coverage ratio is 36.30 percentage points higher than the national average of 211.97% [14]. Group 3: Profitability - The bank achieved an operating income of 7.659 billion yuan, a year-on-year increase of 7.00% [15]. - The net profit reached 3.394 billion yuan, reflecting a growth of 5.73% year-on-year [15]. - The net interest income was 5.863 billion yuan, an increase of 639 million yuan, with a growth rate of 12.22% [16]. Group 4: Market Outlook - The bank's cost-to-income ratio decreased to 24.01%, down by 0.09 percentage points from the previous year, which is 6.19 percentage points lower than the national average of 30.20% [17][18]. - The bank's stock price has risen approximately 12.94% since the beginning of the year, indicating positive market sentiment [18]. - Analysts have issued "buy" or "increase" ratings for the bank, reflecting confidence in its future performance [18]. Group 5: Future Prospects - The bank's coverage of GDP and population in the "One City, Three Provinces" region exceeds 50%, providing a solid foundation for sustainable growth [20]. - Economic growth in Chongqing and surrounding provinces is above national targets, supporting the bank's future development [20]. - The bank is on track to become a "trillion-yuan bank," with rapidly growing asset scale, improving asset quality, and increasing profitability [20].

| 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-27 | 重庆银行 | 601963 | 9.66 | 676.2 | 70 | 东北证券股份有限 | 国泰海通证券股份 | | | | | | | | | 公司重庆科园一路 | 有限公司重庆中山 | | | | | | | | | 证券营业部 | 三路证券营业部 | | | 2025-08-27 | 重庆银行 | 601963 | 9.66 | 473.34 | | 方正证券股份有限 | 国泰海通证券股份 | | | | | | | | | 公司重庆金开大道 | 有限公司重庆中山 | | | | | | | | | 证券营业部 | 三路证券营业部 | | 8月27日，重庆银行大宗交易成交119万股，成交额1149.54万元，占当日总成交额的6.57%，成交价9.66元，较市场收盘价9.85元折价1.93%。 ...